Job loss fears | 7 in 10 firms expect redundancies as furlough scheme ends

New research reveals that nearly 7 in 10 employers (69%) expect to make redundancies within the next year, the majority of which will take place within the coming months.

According to the study from Renovo, specialists who support employers and employees through redundancy, 46% of organisations expect to make redundancies within six months, while 23% anticipate redundancies within 6-12 months.

The news comes as the Coronavirus Job Retention Scheme is set to end on Thursday, forcing organisations to make decisions regarding the future of furloughed employees. For employers expecting redundancies, 84% have employees on furlough.

However, for employees, concerns over redundancy are not explicitly linked to the end of the furlough scheme. Fifty-six percent of employees surveyed, who are worried about being made redundant within the next year, are not on furlough.